It really depends where they live. My 25 year old D lives in Boston and her current very small apartment in a full service, modern building with underground parking is $3400/mo. To buy something equivalent would be at least $800K, but she would never want that (because her place is really too small), so something a little larger would be well over $1M. There is no value there. It’s better for her to wait until she’s ready to move out a bit further where the $1M will buy a house.